Direct-to-consumer footwear brand Yoho has raised a new funding round from both new and existing investors. The round includes Rs 15 crore in equity and Rs 8 crore in debt, led by Gulf Islamic Investments (GII) and Rajeev Misra, former CEO of SoftBank Vision Fund. It also saw participation from Vijay Shekhar Sharma (founder of Paytm) and other existing investors. The Delhi-based brand had previously securedRs 20 crorein a Series A round of funding led by existing investors SoftBank Investment Advisers’ chief executive officer Rajeev Mishra, Rukam Capital, Vijay Shekhar Sharma and others in Oct. 2022 andRs 27 crore(around $3.2 million) in a pre-Series B round led by Gulf Islamic Investments in Oct. 2024. The fresh funds will be deployed toward expanding offline retail footprint and scaling its performance running range, Yoho said in a press release. Co-founded in 2021 by Ahmad Hushsham and Prateek Singhal, Yoho claims to have sold over three million pairs of footwear across its own website and major e-commerce platforms including Amazon, Myntra, Flipkart, Ajio, and Nykaa. The brand has also established a presence on quick commerce platforms such as Blinkit, Zepto, and Swiggy Instamart. As per market research, India's sneaker market is expected to reach $6 billion by FY32 . On the offline front, Yoho is targeting partnerships with 2,500 Multi-Brand Outlets across tier I and tier II cities. The company also plans to expand on Exclusive Brand Outlets that will integrate AI-driven solutions to address fitting issues, reduce returns, and optimize inventory management. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
